Singapore (VNA) – A gradual U-shaped recovery is expected for the ASEAN+3 region, which includes ten ASEAN member states, China, Japan and the Republic of Korea, according to an updated forecast by ASEAN+3 Macroeconomic Research Office (AMRO). Regional growth is expected to slow sharply this year to zero percent, from 4.8 percent in 2019, before rebounding strongly to 6.0 percent in 2021, AMRO said in a statement. Nine of the 14 ASEAN+3 members are expected to contract this year, while economies projected to record positive growth rates are China and smaller ASEAN economies – Brunei, Laos, Myanmar and Vietnam. Strict containment measures to prevent the coronavirus from spreading have caused economies to come to a standstill, leading to massive increases in unemployment, disruptions to businesses, and widespread collapse in domestic demand. Additionally, bans on international travel have decimated the region's all-important tourism sector. AMRO said the resurgence in … [Read more...] about U-shaped recovery expected in ASEAN+3: AMRO
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Nestlé Vietnam has been continually named among the top 100 businesses with largest contributions to state coffers as well as the top 10 most sustainable development companies in the country. Addressing the ceremony to donate noble awards of the Party and the state to deserving individuals and enterprises in the southern province of Dong Nai where the enterprises are located, Dang Thi Ngoc Thinh, Vice State President and Deputy Chairwoman of Central Council of Emulation and Reward, and Cao Tien Dung, Chairman of Dong Nai People’s Committee, lauded the individuals and corporate entities, saying that they are eminent examples with inspiring creativity at work deserving to be commended. … [Read more...] about Nestlé Vietnam honoured with Certificate of Merit from Vietnamese prime minister
Trump, who has locked horns with China on a range of issues including trade and the coronavirus pandemic, has set a deadline of mid-September for TikTok to be acquired by a US firm or be banned in the United States. … [Read more...] about Trump orders ban on dealings with TikTok’s Chinese owner
The association explained that the negative impacts of the pandemic led to frequent delays in the time needed to transport the commodity from Western Africa to Vietnam. Moreover, the demand for cashew imports of local firms remained lower than in previous years, thus sending cashew imports down. … [Read more...] about Vinacas targets cashew exports of US$3.2 billion
Viettel among investors of new high-speed under-sea cable ADC The telecom giant Viettel on June 19 announced it is among the members of a consortium developing a high-performance under-sea cable connecting Vietnam, China, Japan, the Philippines, Singapore and Thailand. … [Read more...] about How are SOEs’ outward investment projects performing?